City property values increase 4 percent

by | Jul 25, 2019 | Latest

Property values for the city of Murphy grew more than an­ticipated over the past year, sur­passing property value estimates released in spring, but reflect a slowing in growth as the commu­nity nears buildout.

Collin Central Appraisal Dis­trict released its certified property values Thursday, July 16, as cities prepare new operating budgets. Most school districts have already approved fiscal year 2019-20 bud­gets and will amend those docu­ments as necessary.

Tax rates based on the certified property values will be set over the next two months.

In Murphy, the CCAD cal­culated property values at $2.6 billion, up four percent from the 2018 value of $2.5 billion. The new number included $12 million in new property. Average home price in Murphy is now $392,592.

 

For the full story, see the July 25 issue or subscribe online.

 

By Joe Reavis • [email protected]

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